B KANNAN Vs. B C SANTHANAM

JUDGEMENT

(1.) The order rejecting the prayer made in the application filed by the petitioner/accused before the trial Court to discharge him in the proceedings initiated for the offence under Section 138 of the Negotiable Instruments Act is being challenged in this Revision.

(2.) The point put in issue in this case is as to whether the complaint under Section 138 of the Negotiable Instruments Act is maintainable, when there is already insolvency proceedings pending before the Insolvency Court, in which at the instance of the petitioner/accused, the complainant is shown as one of the creditors.

(3.) The learned Counsel for the petitioner would submit that when the respondent/complainant filed a complaint dated 15-4-91, the petitioner/accused, much earlier to the initiation of the criminal proceedings, filed an Insolvency Petition in I.P. No. 3/90 before the Sub-Court, Kancheepuram on 5-11-90 and that therefore, the proceedings under Section 138 of the Negotiable Instruments Act could not be allowed to go on.